Wapda welcomes investment in Diamer-Bhasha dam project

The Water and Power Development Authority (Wapda) has welcomed investment in construction of Diamer-Bhasha dam by any local financial institution as the government attaches high priority to execution of the project. Central Directorate of National Savings (CDNS) Director General Zafar Iqbal recently stated that CDNS was ready to invest in Diamer-Bhasha dam. 

A Wapda spokesman on Friday clarified that sometimes back the CDNS DG had expressed desire for investment of CDNS funds in Diamer-Bhasha dam project. However, during the course of meetings with Wapda officers, CDNS DG subsequently expressed his inability to make direct investment of funds in Diamer-Bhasha dam project. “However, he desired that CDNS might be appointed as a consultant for Wapda for arrangement of funds for the project. This proposal was not considered feasible, as CDNS had no experience of consultancy in project funding,” the spokesman said. “The CDNS DG has now said that CDNS has sufficient resources to fund the construction of Diamer-Bhasha dam project provided it is given the status of an autonomous body.” 

“The proposal is for the appropriate government forum to consider/decide. Wapda will appreciate if any investment is made for Diamer-Bhasha dam project by any financial institution including CDNS, as Wapda and the Federal government attach high priority to execution of the project,” the spokesman concluded.-PR 

Copyright Business Recorder, 2012

Muhammad Ramzan Rafique
Muhammad Ramzan Rafique

I am from a small town Chichawatni, Sahiwal, Punjab , Pakistan, studied from University of Agriculture Faisalabad, on my mission to explore world I am in Denmark these days..

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